(210) 960-2117

David C. Rouse, CPA* CFP®

Stop Wasting Money

Benjamin Franklin once said, “a penny saved is a penny earned.”¹ The modern upgrade to that observation might be that $100 not spent is more like $143.²

One way to find the money to meet your spending or saving needs is to examine your current spending habits and consider eliminating money wasters.

Top Money Wasters

Bargain Shopping ... and its Expensive Cousin, Impulse Buying Fire sales and impulse buying (such as buying products sold on infomercials) can be money wasters, made worse by how often items purchased this way sit idly in a closet or drawer.

Unused Gym Memberships At a monthly rate of $40-50, unused memberships can add up over time. Begin your fitness commitment inexpensively by walking or jogging; you can graduate to the gym once you know you’re going to stick with it.

Cable and Cell Call your provider and see if it’s possible to negotiate a new rate. Cell providers, who face stiff competition, may be responsive. Cable companies may be less so, especially if they are a single provider, but you can review your package and make sure you are not paying for service you don’t want.

Paying for Water Switching from an essentially free product to one that may cost up to $1.50 a day or more makes for a real budget leak. Consider purchasing a reusable container and refilling it during the day.

Gourmet Coffee $2 or $3 a day may not seem like a lot of money, but when Americans step into a gourmet coffee shop, they may often buy more than just the coffee. Consider brewing your own coffee. It can be ready before you leave for work, and it’ll save you the wait in the drive-through line!

Eating OutAmericans now spend more money dining out than they do at the grocery store.³ Consider the cost of going out to lunch twice a week. If you spent $10 each time, it would cost you $1,040 annually. While dining out may be one of life’s pleasures, it is often less about socialization and more about convenience. Twice a week may not seem like much, but over time it can add up.

Brainy Quote, September 2016

This is a hypothetical example that assumes a 30% tax rate. The example is used for illustrative purposes only. It is not representative of any specific tax rate or combination of tax rates.

Fool.com, January 1, 2017

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright 2018 FMG Suite.

Contact

Check the background of your financial professional on FINRA's BrokerCheck.

The content is developed from sources believed to be providing accurate information.
The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals
for specific information regarding your individual situation. Some of this material was developed and produced by
FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named
representative, broker - dealer, state - or SEC - registered investment advisory firm. The opinions expressed and
material provided are for general information, and should not be considered a solicitation for the purchase or
sale of any security.

Copyright 2018 FMG Suite.

1David C. Rouse, CPA* CFP® is a Registered Representative and Investment Adviser Representative of Equity Services, Inc. Securities and investment advisory services are offered solely through registered representatives and investment adviser representatives of Equity Services, Inc., Member FINRA/SIPC, One National Life Drive, Montpelier, VT 05604. (800) 344-7437. Rouse and Associates and all other entities and individuals referenced are independent of Equity Services, Inc. unless otherwise noted.

David C. Rouse is a Registered Representative and Investment Adviser Representative of Equity Services, Inc. and offers securities in Texas. He also offers insurance in Texas.

*Tax advice and accounting services are offered independently of Equity Services, Inc. (ESI). ESI, and any companies affiliated with ESI, are not sponsoring, are not responsible for, and make no warranties or representations as to the CPA's right to or competence to practice accounting. Anyone dealing with the CPA assumes the entire risk of dealing with the CPA in connection with the practice of accounting or providing tax advice.

Documents uploaded are for CPA/accounting buisness only and all securities related correspondence need to be sent via email to [email protected].